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HomeCrimeSERAP Sues Tinubu Over Missing $3.4bn IMF Loan

SERAP Sues Tinubu Over Missing $3.4bn IMF Loan


Socio-Economic Rights and Accountability Project (SERAP) has taken legal action against President Bola Tinubu concerning the purported mismanagement of a $3.4 billion loan acquired by Nigeria from the International Monetary Fund (IMF) to support the budget and COVID-19 response efforts. The suit, filed at the Federal High Court, Abuja, seeks to compel President Tinubu to investigate the allegations and ensure accountability.

SERAP emphasizes the importance of addressing these allegations to alleviate Nigeria’s economic crisis and debt burden. They argue that the findings by the Auditor-General indicate a breach of public trust and constitutional obligations. Moreover, they highlight the detrimental impact of corruption on citizens, urging for transparent and accountable use of loans for public welfare.

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The lawsuit aims to secure justice for victims of corruption and ensure the recovery of the missing funds, as recommended by the Auditor-General. It underscores the legal and moral duty of the Nigerian government to uphold integrity, combat corruption, and promote the common good.

Joined in the suit as Respondent is Mr Lateef Fagbemi, SAN, the Attorney General of the Federation and Minister of Justice. No hearing date has been set yet, but SERAP remains committed to pursuing accountability and transparency in the management of public funds.





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